New York, NY (Vocus/PRWEB) February 03, 2011
SunGard today announced that it has acquired PredictiveMetrics, a provider of predictive scoring and analytical services for trade credit, debt collections, utilities and other markets. The acquisition will help extend SunGards AvantGard suite of receivables solutions to offer statistical scoring services that help organizations proactively analyze the credit and collection worthiness and likelihood of delinquency or payment across their receivables portfolio. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGards financial results.
PredictiveMetrics core services around credit and collection analyses will become part of SunGards AvantGard Receivables solution and will be marketed under the AvantGard Receivables brand. SunGard will continue to support the core markets including business-to-business, utilities and debt collection agencies. The predictive modeling solution will also be leveraged to build a new offering for trade credit liquidity decisioning across the receivables portfolio. This will help companies and lenders apply modeling to appropriately evaluate risk and liquidity, helping them better leverage key instruments such as credit insurance, collateralized lending, dynamic discounting, securitization, invoice financing and first / third party outsourcing.
Michael Banasiak, president, PredictiveMetrics, said, Being part of SunGard will help us offer increased flexibility and choice to the credit and collections community. We are very pleased to expand into new areas such as trade credit liquidity in order to deliver more sophisticated solutions for optimized liquidity management. Mike Banasiak will join SunGard as part of the AvantGard team.
C.J. Wimley, executive vice president, trade credit liquidity solutions for SunGards AvantGard business unit, said, The acquisition of PredictiveMetrics is a strategic step forward in our long-term plan to help companies manage their receivables as a capital investment. Performing predictive analytics across the receivables portfolio helps companies mitigate corporate credit risk and gain valuable insight for improved decision-making.
About PredictiveMetrics
Founded in 1995, PredictiveMetrics, Inc. is a global leader in providing predictive scoring and analytical decision solutions using advanced statistical techniques for credit, collections and debt recovery collections. PredictiveMetrics decision technology spans many industries, types of financing, and ages of debt.
PredictiveMetrics is designed to conduct vigorous and sophisticated analytics coupled with innovative, advanced statistical techniques.
About SunGards AvantGard
SunGards AvantGard is a leading liquidity management solution for corporations, insurance companies and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around receivables, treasury and payments. AvantGard helps companies drive free cash flow and reduce inefficiencies across the ecosystem of suppliers, buyers, banks and other trading partners. For more information, visit http://www.sungard.com/avantgard.
About SunGard
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $ 5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
Trademark Information: SunGard, the SunGard logo and AvantGard are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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